News Code : 43005

• Iranian fibre breaks below $1300 CPT • Turkmenian raffia traded $40 lower on week • Lower China adds to weak June expectations • Activities are sluggish due to the Eid • Local raffia sold below $1500 level • Local ($/ton): Raffia 1470-1540 inc VAT • Import Saudi ($/ton): Raffia 1170-1190 | Fibre 1260-1280 CIF

Petrotahlil:

Sluggish demand keeps PP market weak in SEA

• Import homo-PP prices sink to 3-month low 

• Buyers remain cautious on China-US trade war 

• Eid holiday, rainy season weigh further on demand 

• High supplies also blamed for lower PP prices 

• Crude oil futures continue to lose ground

• Import homo-PP raffia, inj. ($/ton): 1100-1170 CIF

 

Thin demand continues to drag down import PP in China

• Buyers stick to sidelines on prolonged trade war 

• Plunging futures add further pressure on market 

• PP futures indicate weekly decrease of CNY374 

• Local polyolefin supplies remain ample 

• Global oil benchmarks hit lowest level since Jan

• Import homo-PP raffia ($/ton): 1070-1140 CIF

 

Rollovers largely surface in June PP market, buyers sidelined in Europe

• June C3 settled stable 

• Initial PP offers unveiled on a stable note 

• Demand remained tepid despite high season 

• Buyers are not in a hurry to buy 

• Rollovers are mostly expected to pass on deals

• Local spot (€/ton): Homo-PP 1240-1340 | PPBC 1290-1390 FD

 

PP market opens June on a stable note in Italy

• Rollovers start to emerge in the market 

• Producers stand firm on their stable requests 

• Buyers are skeptical about rollovers 

• Demand remains tepid amid comfortable supply 

• Small discounts might show up later in the month

• Local spot (€/ton): Homo-PP 1190-1300 | PPBC 1250-1350 FD

 

Middle Eastern PP players await June offers

• May PP deals concluded steady to softer 

• Poor market sentiment persists 

• Approaching Eid holidays keep demand limited

• Local PP in S.Arabia ($/ton): Raffia and inj. 1140-1150 FD 

• Import PP in UAE ($/ton): Raffia and inj. 1190-1210 CIF

 

Will firm costs outweigh sluggish demand in African PP markets?

• Sellers stand firm, citing short supplies 

• Activities limited amid rainy season, upcoming holiday 

• Some players expect improved demand after Eid

• Imports in Algeria ($/ton): Homo PP 1230 CIF 

• Imports in Kenya ($/ton): Homo PP 1180-1245 CIF

 

Egypt’s local PP market softer ahead of holidays

• June import PP offers awaited steady to soft 

• Import market unchanged amid limited activity 

• Local prices steady or down by EGP200-300 

• Players sidelined amid approaching holidays

• Import PP ($/ton): Raffia 1170-1220 | Film 1210-1230 CIF

 

Follow us on Twitter @petrotahlil 

END

 

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